Join us in showcasing the cryptocurrency revolution, one newsletter at a time. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers (that’s right, millions love us!) — what are you waiting for?
Helium (HNT): A Quick Introduction
The Helium Network offers worldwide and distributed coverage for IoT devices with LoRaWAN capability through a long-range wireless network. The network consists of Hotspots, which offer public network coverage and receive compensation in Helium’s native cryptocurrency, HNT. The integration with the Helium blockchain serves as an incentive for operating Hotspots.
Amir Haleem, Sean Carey, and Shawn Fanning created the Helium network in 2013 with the goal of developing the world’s first decentralized peer-to-peer wireless network, also known as the people’s network. Their aim was to simplify the process of connecting devices to the internet, which had previously been a challenge without the use of blockchain technology.
HNT: Roadmap And Features
The proof of coverage mechanism validates whether a hotspot is offering network coverage for its location by considering factors such as radio frequency strength, speed, and distance. Challenges are utilized for proof of coverage, where hotspots test each other’s radio frequencies. Millions of challenges have been conducted via the Helium blockchain, and each new challenge records additional data regarding the network’s overall quality.
The Helium network employs a distinctive feature known as Proof-of-Location, which allows for the accurate interpretation of a device’s location without the need for power-draining or costly satellite installation. This digital currency network relies on high-speed wireless internet service.
By utilizing this technology, devices are capable of offering a precise and secure representation of their location, which is subsequently recorded on the blockchain.
The whitepaper states, “The Helium network is a decentralised wireless network that enables devices anywhere in the world to wirelessly connect to the internet and geolocate themselves without the need for power-hungry satellite location hardware or expensive cellular plans.”
It further states, “Satisfying the design requirements of being permissionless, decentralised, byzantine fault-tolerant, based on useful work, and with a very high-rate, censor-proof transaction mechanism.”
In October 2021, Helium announced its partnership with the internet service behemoth, Dish in an effort to bring its decentralized network to the masses. This collaboration enabled Dish Network users to operate Helium nodes and receive rewards for sharing their 5G network with others in their vicinity.
Helium Price Prediction: Price History
Investors should have an understanding of HNT’s past performance before delving into technical analysis to make informed predictions about its future price trends. Nevertheless, it’s crucial to acknowledge that relying solely on price history is inadequate to anticipate Helium’s future price movements.
The first Helium block was mined in July 2019, but it took over a year for the price to surpass the $1 threshold. In August 2020, the price of HNT experienced a surge as Helium introduced data credits, which is another token based on the Helium blockchain.
Data credits are part of a dual-token system, where their production is only possible by burning HNT. The primary purpose of data credits is to pay for using the Helium network.
The rollout of data credits turned out to be a significant milestone for Helium. Following the announcement, the price of HNT skyrocketed from $0.67 on 11 August 2020 to $1.77 on 15 August 2020. This positive momentum continued into September when the coin surpassed the $2 threshold after the ratio of data credits to HNT was updated via a Helium Improvement Proposal (HIP).
In November 2020, the Helium community approved another Helium Improvement Proposal (HIP), which established a maximum supply limit of 223 million for HNT to ensure its scarcity. This update also introduced the concept of halving, where the amount of Helium that can be mined each month is reduced by half every two years.
Although the price of HNT had fallen below $1 on 31 October 2020, it experienced another surge following the announcement of the supply changes. Two days after the news, the price skyrocketed to $1.80 on 21 November 2020, offering a glimpse of what was yet to come.
With the price starting to rise in January 2021, it reached over $5 in March. On 14 April 2021, Helium passed another Helium Improvement Proposal (HIP) that enabled it to offer 5G coverage, making it the first consumer-owned 5G network in the world.
Following the announcement of 5G coverage, the price of HNT surged to $18.66 on 6 April 2021 and peaked at $19.51 on 28 May. Although it dropped below $15 in the next two months, it later broke through the $20 barrier in August, a significant milestone for the currency.
In August 2021, several significant events occurred for the Helium blockchain network. The first halving event occurred on 1 August, cutting the amount of mineable HNT from 60 million to 30 million per year. Following this, the network raised $111m through a token sale led by Andreessen Horowitz, a US-based venture capital firm. This influx of capital was intended to finance the rollout of Helium’s 5G network, and it had a positive impact on the price of HNT, which climbed to $24.81 by the end of the month.
The HNT price experienced an outstanding surge in November 2021. Starting at $28.26 on 1 November, it quickly escalated and peaked at an all-time high of $55.22 on 12 November. However, by 25 November 2021, the HNT price had retreated to hover around $43.
HNT Price Prediction: Technical Analysis
The popular RSI-14 indicator is trading on the verge of its selling region at the level of 29, which shows that the bottom has already been formed, and the HNT token may spark fresh surges in the next few days. Moreover, the MACD line has stabilized near the signal line as it forms a bullish divergence pattern with the trading volume. However, the SMA-14 does not promise a bullish trend as it is slowly dropping below the midline at 30, which may trigger a short-term bearish retracement for HNT. If the Helium coin breaks above its resistance of $2, it may pave its upward road to its Bollinger band’s upper limit of $2.7, and if it manages to break its strong resistance of $3.4, it may attempt to go higher to EMA-200 at $4.1. Conversely, if HNT drops below the crucial support level of $1.4, a further bearish rally is expected, which may cause it to accelerate a sharp collapse and trade near its Bollinger band’s lower limit of $1.2. If Helium’s price fails to hold above $1, it may gear up for a more bearish bloodbath and trade near $0.98.
HNT Price Prediction By BlockchainReporter
HNT Price Prediction 2023
BlockchainReporter’s current HNT price prediction for the upcoming years is optimistic. In 2023, we anticipate a bullish trend for Helium with a maximum price of $3.39, a minimum value of $2.98, and an average market price of $3.09. The frequent updates and new developments of HNT could influence the price levels of the cryptocurrency.
HNT Price Prediction 2024
HNT Price Prediction 2025
HNT Price Prediction 2026
For 2026, Helium is expected to have a sustained bull market, leading to a maximum price of $10.89 and a minimum value of $9.07, with an average market price of $9.38.
HNT Price Prediction 2027
According to the HNT token price forecast for 2027, investors could record huge profits, as the cryptocurrency could reach a peak price of $16.07, with an average price of $14.04 and a minimum possible level of $13.66. HNT’s reduced fees, transparency, security, and faster transactions could contribute to a surge in price.
HNT Price Prediction 2028
In 2028, Helium could trade between a minimum price value of $20.09 and a maximum price value of $23.57, with an expected average value of $20.80. Being one of the best-performing digital coins in the crypto market, there would be a huge demand for the token in the future, leading to a massive increase in price.
HNT Price Prediction 2029
For 2029, Helium is expected to trade at a maximum value of $35.03, maintaining an average trading value of $31.11 and a minimum value of $30.27 throughout the year.
HNT Price Prediction 2030
Our HNT price forecast for 2030 expects Helium to attain a maximum level of $52.14, with a minimum level of $45.29 and an average trading price of $46.54.
HNT (Helium) Price Prediction 2031
The helium price forecast for 2031 indicates an overall bullish trend leading to a peak price of $76.98, with an average price of $64.40 and a minimum price of $62.08. The digital coin’s potential could attract many users, influencing these high prices.
HNT Price Prediction 2032
Finally, for 2032, HNT is expected to have a fully bullish year with loads of upside fluctuations, leading to a maximum price of $107.49, an average trading price of $94.49, and a minimum price of $91.91.
HNT Price Prediction By Industry Influencers
Digital Coin Price’s Helium price prediction gives a bullish outlook for the token’s future potential. The website expects the HNT price to surpass the $4.32 mark in 2024. As the year progresses, Helium is expected to maintain a minimum fee of $4.17 while also having the potential to reach a maximum level of $4.49.
In 2032, the HNT price is anticipated to surpass the $37.14 mark, with a predicted minimum value of $36.52 and a maximum value of $37.59 by the end of the year.
According to CryptoPredictions.com’s HNT price analysis, the Helium token is anticipated to begin trading at $2.325 and end the month at $2.362. Throughout the month, the projected maximum price for HNT is $3.394, while the minimum price is $2.308.
Is HNT A Good Investment? When Should You Buy?
Despite a sluggish start, Helium has experienced rapid growth, increasing from around 7,000 hotspots in August 2020 to over 25,000 by April 2021. However, the network is still in its nascent stages, with strong representation limited to major urban centers in the United States and Western Europe. Additionally, Asia presents significant growth potential as hotspots have only recently emerged in China. Hence, it can be concluded that the Helium token is a good investment option in the long term. However, our HNT price prediction advises to invest in this token near $1.5.
Helium Network is a decentralized network of wireless hotspots that provides an alternative to traditional wired internet or mobile data services. The network is powered by cryptocurrencies, and users who take part in the network receive rewards for their participation. HNT is earned by hotspots that provide wireless coverage and validate data transfers on the network.
What is the Helium Network?
The Helium Network is a decentralized wireless network that enables low-power devices, such as sensors and Internet of Things (IoT) devices, to connect to the internet without relying on traditional cellular or Wi-Fi networks. The network is powered by nodes that provide coverage and earn HNT tokens for their efforts.
What is HNT?
HNT is the native cryptocurrency of the Helium Network. It is used to incentivize node operators to provide coverage and maintain the network, as well as to pay for transaction fees and other network-related costs.